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Roanoke

48 TH ANNUAL VIRGINIA ACCOUNTING & AUDITING CONFERENCE

FALLS CHURCH MARRIOTT FAIRVIEW PARK

SEPTEMBER 27–28, 2018

HOTEL ROANOKE & CONFERENCE CENTER

OCTOBER 1–2, 2018

HILTON NORFOLK THE MAIN

NOVEMBER 15–16, 2018

CO PRESENTED BY:

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KEEP CPA BUSINESSES THRIVING The Virginia Society of CPAs (VSCPA) advocates on behalf of all Virginia CPAs, because we value you and the esteem the CPA license holds. When you contribute to the Virginia Society of CPAs Political Action Committee (VSCPA PAC), your voice joins thousands of Virginia CPAs, ensuring that you are heard at the Virginia General Assembly. Contribute to the VSCPA PAC today.

Virginia Society of Certified Public Accountants Political Action Committee

48 th Annual Virginia Accounting & Auditing Conference Housekeeping List NEW! Online Verification of Attendance Form • You should have received an email with a link to the conference verification of attendance form. It is also available in the VSCPA Events Mobile App, and you’ll receive another email with the link upon completion of the conference. • Mark all conference sessions that you attended and the form will automatically calculate the number of minutes. If you only attended part of a session, please indicate the number of minutes you attended. • Make sure to enter your name, email address and phone number. • You will receive a CPE certificate via email from the VSCPA within three weeks of the conference. • If you need help with this new electronic process or have questions, please visit the registration desk or contact the VSCPA at cpe@vscpa.com or (800) 733-8272. Materials • All presentations are subject to change. • Any updated presentations will be added to the conference e-materials link within a week of the event. Evaluations • A link to the conference evaluation will be sent at the conclusion of the conference to the email address you provided at registration. • Notes pages have been provided in the back of your packet for keeping track of sessions and presenters. Connect Community • Connect ( http://connect.vscpa.com ), the VSCPA’s members-only online community, has a special community for all conferences. All member attendees are automatically included in the community. See who else is attending the conference and connect with each other before and after the event. • Conference presentations, electronic materials and other relevant documents will be loaded to the conference community within a week of the conference. • Use the discussion board of the event community to communicate with your fellow attendees on session topics, speakers and conference highlights. Social Media • If you’re on Twitter, use the hashtag #VSCPA to tweet about your conference experience. And follow us @VSCPANews • If you’re on Instagram, use the hashtag #VSCPA to tag us in your event pictures.

Hotel Roanoke and Conference Center October 1-2, 2018 Day 1 - Schedule

6:30 – 8:00 am Registration & Continental Breakfast OPENING

Presiding: Lynn Almond, CPA, Department of Accounting & Information Systems, Virginia Tech

Session

Day/time 8:00 am 8:50 am 8:55 am 9:45 am 10:00 am 11:40 pm 10:00 am 11:40 pm 10:00 am 11:40 pm 10:00 am 11:40 pm 10:00 am 11:40 pm 10:00 am 11:40 pm 11:45 am 12:35 pm 11:45 am 12:35 pm 12:50 pm 2:30 pm 12:50 pm 2:30 pm 12:50 pm 2:30 pm 12:50 pm 2:30 pm 12:50 pm 2:30 pm 2:45 pm 4:25 pm 2:45 pm 4:25 pm 2:45 pm 4:25 pm 2:45 pm 4:25 pm 2:45 pm 4:25 pm 2:45 pm 4:25 pm

Room

Roanoke Ballroom Roanoke Ballroom Roanoke D, G, H

Emerging Impacts on the CPA Profession Michael Grant, CPA Navigating Virginia’s Political Landscape Emily Walker, CAE

9:45 – 10:00 am Break 3

Technology Update Randy Johnston, MCP, CNA

How to Identify a Flawed Valuation Harold Martin, Jr., CPA, ABV/CFF Managing Your Insurance Needs Burman Clark, RHU, CSA

Shenandoah

Crystal A – C

Roanoke C, E, F

Today’s Analytical Procedures – A Practical Approach Joan Renner, CPA, CGMA

Accounting for Federal Contracts Bill Walter, CPA, CGMA

Buck Mountain

Accounting & Auditing Update for Nonprofits Lee Klumpp, CPA, CGMA What Happened to My Itemized Deductions? Bill Young, CPA, CGMA

Crystal D - E

11:45 – 12:35 pm

Lunch ‘N Learn Sessions - Optional

Washington

Employee Benefit Plan – Retirement Plan Perspectives: Auditor, Plan Sponsor, Plan Participant & Tax Compliance Jennifer Lehman, CPA, CGMA and Kevin Humphries, CPA, CVA, CFF, CGMA Update on Requirements & Best Practices for Preparation, Compilations & Review Engagements Mike Glynn, CPA, CGMA

Pocahontas

12:35 – 12:50 pm Break 11 12:50 pm 2:30 pm

Crystal A – C

Roanoke D, G, H

Cybersecurity: A Practical Guide Randy Johnston, MCP, CNA How to Identify a Flawed Valuation (REPEAT OF SESSION 4)

Buck Mountain

GASB Update Tracy M Bedgood, CPA and Krista Edoff, CPA Accounting & Auditing Update for Nonprofits (REPEAT OF SESSION 8)

Shenandoah

Crystal D - E

Roanoke C, E, F

Tax Policy Update – Corporate Art Auerbach, CPA, CGMA

2:30 – 2:45 pm Break 17

Update on Requirements & Best Practices for Preparation, Compilation & Review Engagements (REPEAT OF SESSION 11)

Crystal A – C

GASB Update (REPEAT OF SESSION 14) Accounting for Federal Contracts (REPEAT OF SESSION 7)

Shenandoah

Buck Mountain

Roanoke C, E, F Roanoke D, G, H

Today’s Analytical Procedures – A Practical Approach (REPEAT OF SESSION 6)

Navigating the New (Ab)Normal in State & Local Tax – What it Means to You Teri Partington, CPA

Nurturing Diversity in the Workplace Alicia Cohen

Crystal D - E

4:25 – 4:40 pm Break EVENING

Presiding: Stephanie Peters, CAE, President & CEO, VSCPA

Roanoke Ballroom

4:40 pm 5:30 pm

AICPA Enhancing Audit Quality Update – Continuing the Journey to Excellence Jim Brackens, CPA, CGMA

5:30 – 7:00 pm Networking Reception

Hotel Roanoke and Conference Center October 1-2, 2018 Day 2 - Schedule

6:30 – 8:25 am Registration and Continental Breakfast

Session

Day/Time 7:30 am 8:20 am

Room

Roanoke Ballroom Roanoke Ballroom Roanoke C, E, F

BONUS SESSION: VSCPA Update Stephanie Peters, CAE

OPENING

Presiding: Stephanie Peters, CAE, President & CEO, VSCPA

8:25 am 9:15 am

Key Virginia Board of Accountancy Disciplinary Actions in 2018 Robert Cox, J.D., MBA

9:40 – 10 am Break 26 9:30 am 11:10 am

Tax Policy Update - Individual Art Auerbach, CPA, CGMA

9:30 am 11:10 am 9:30 am 11:10 am 9:30 am 11:10 am 9:30 am 11:10 am 9:30 am 11:10 am 11:15 am 12:05 pm 11:15 am 12:05 pm 12:20 am 1:50 pm 12:20 am 1:50 pm 12:20 am 1:50 pm 12:20 am 1:50 pm 12:20 am 1:50 pm 2:05 pm 3:45 pm 2:05 pm 3:45 pm 2:05 pm 3:45 pm 2:05 pm 3:45 pm 2:05 pm 3:45 pm 2:05 pm 3:45 pm

Cybersecurity: Mitigating Risks Through an Effective Cybersecurity Risk Management Program Cindy Gross, CPA, CISA

Shenandoah

Roanoke D, G, H

Virginia-Specific Ethics Course 2018 Jim Cole, CPA, CGMA

Navigating the New (Ab)Normal in State & Local Tax – What It Means to You (REPEAT OF SESSION 21)

Buck Mountain

Nurturing Diversity in the Workplace (REPEAT OF SESSION 22) Managing Your Insurance Needs (REPEAT OF SESSION 5)

Crystal D - E

Crystal A – C

11:15 am – 12:05 pm

Lunch ‘N Learn Sessions - Optional

Overview of the Virginia Board of Accountancy Disciplinary Process Robert Cox, J.D., MBA

Washington

What Happened to My Itemized Deductions Bill Young, CPA, CGMA

Pocahontas

12:05 – 12:20 pm Break 34 12:20 am 1:50 pm

GAO Yellow Book Update: The Latest Developments in Government Auditing Standards Matt Zaun Managing Your Professional Liability – Risk Management Best Practices Duncan Will, CP, ABV/CFF, CFE

Shenandoah

Buck Mountain

Roanoke D, G, H

Global Finance, Banking, Treasury & Payments Update Jeff Lewis, CPA, MBA, RR, CTP

FASB Update Michael Cheng

Crystal D - E

A Tale of Two Nonprofits: Useful Applications of the Changes Fostered by ASU 2016-14, Nonprofit Financial Statements Cathy Pennington, CPA, CGMA Cybersecurity: Mitigating Risks Through an Effective Cybersecurity Risk Management Program (REPEAT OF SESSION 27) GAO Yellow Book Update: The Latest Developments in Government Auditing Standards (REPEAT OF SESSION 34)

Crystal A – C

Roanoke C, E, F

2:25 1:50 – 2:05 pm Break 40

Buck Mountain

Roanoke D, G, H Roanoke C, E, F

Global Finance, Banking, Treasury & Payments Update (REPEAT OF SESSION 36)

Virginia-Specific Ethics Course 2018 (REPEAT OF SESSION 28)

A Tale of Two Nonprofits: Useful Applications of the Changes Fostered by ASU 2016-14, Nonprofit Financial Statements (REPEAT OF SESSION 38) Managing Your Professional Liability – Risk Management Best Practices (REPEAT OF SESSION 35)

Crystal A - C

Shenandoah

FASB Update (REPEAT OF SESSION 37)

Crystal D - E

HOTEL ROANOKE AND CONFERENCE CENTER

NOTES: __________________________________________ __________________________________________ __________________________________________ __________________________________________ __________________________________________ __________________________________________ __________________________________________ __________________________________________ __________________________________________ __________________________________________ __________________________________________ __________________________________________ __________________________________________ __________________________________________ __________________________________________ __________________________________________ __________________________________________ __________________________________________ __________________________________________ __________________________________________ __________________________________________ __________________________________________ __________________________________________ __________________________________________ __________________________________________ __________________________________________ __________________________________________

BIOs OF SPEAKERS FOR ROANOKE CONFERENCE

Arthur (Art) Auerbach , CPA, CGMA is an independent tax consultant located in Atlanta, GA., specializing in tax consulting and estate and financial planning for individuals and closely held businesses. He is affiliated with the Asbury Law Firm as a consultant. He is a member of the Georgia, Virginia, New York and Greater Washington CPA societies. Art was appointed to the AICPA Tax Executive Committee for a term beginning February 1, 2018 ending May 31, 2019. As an active member of the Georgia Society he serves on the Georgia Department of Revenue Commissioners Advisory Group, the Financial Literacy Task Force and Chairs the GSCPA Federal State Tax Task Force. He has served as an advisor to the District of Columbia Office of Tax and Revenue and the Tax Commissioners Advisory group in Virginia. Art is currently on the editorial board of the Journal of Accountancy and serves as a member of the Ethics Committee of the Virginia Society of CPA’s. Art is a nationally recognized speaker on a variety of tax topics offered for continuing education for CPA’s and financial planners. He has authored several publications and articles. Art is licensed in Georgia, Virginia, District of Columbia and New York and is a life member of the American Institute of CPA’s. He can be reached at Arthur.Auerbach@cpa. com. Tracy M. Bedgood , CPA, As an audit manager, is responsible for all aspects of the audit process. She maintains an active presence throughout the planning, performing, supervising and reporting stages of the engagement, as well as provides direct communication and value-added services to clients. Tracy serves clients across a wide range of industry groups, specializing in attestation services for the government sector. Attestation services she provides include financial and performance audits, agreed-upon procedures, single audits and compliance audits. With over 13 years of audit experience, Tracy has also guided state and local government entities with financial statement and compliance audits in accordance with both GAAS and Government Auditing Standards, the Single Audit, and the Auditor of Public Accounts’ Specifications for Audits of Counties, Cities and Towns, and Specifications for Audits of Authorities, Boards and C ommissions. Prior to joining Cherry Bekaert, Tracy practiced public accounting in Georgia for nearly 10 years. James (Jim) W. Brackens Jr. , CPA, CGMA, is vice president of ethics and practice quality at the American Institute of CPAs (AICPA). His responsibilities include providing strategic and tactical direction for peer review, professional ethics, the Employee Benefit Plan Audit Quality Center and the Governmental Audit Quality Center. Prior to joining the AICPA in 2006, Jim was associated with both international and local public accounting firms including managing his own practice for 17 years in which he served primarily closely held businesses and nonprofit organizations. He also served as a peer reviewer and performed more than 300 peer reviews of local accounting firms. Jim is a member of the AICPA, the North Carolina Association of CPAs (NCACPA) and the Virginia Society of CPAs (VSCPA) and has served in various volunteer leadership positions for both the AICPA and VSCPA including chairing the VSCPA’s Peer Review Committee, ser ving as vice chair and member of the VSCPA’s Board of Directors and as a member of the AICPA’s Professional Ethics Executive Committee. Through a joint effort of the VSCPA and Virginia Business magazine, Jim was voted by his peers as being one of the top CPAs in Virginia in small business consulting (2001 through 2004) and assurance services (2004 and 2005). In 2004, he was the initial author and primary presenter of the VSCPA’s CPE course "Ethics 2004 — Your License Depends on It!" and continued in this capacity until joining the AICPA. Jim received his bachelor's degree in accounting from Virginia Tech in 1977. Michael (Mike) K. Cheng joined the staff of the Financial Accounting Standards Board (FASB) in 2012 as a project manager. He serves as the Private Company Council (PCC) coordinator where he is responsible for all PCC related matte rs. He also lead the board’s private company decision making framework project focused on determining whether and in what circumstances it is appropriate to adjust financial reporting requirements for private companies following U.S. GAAP. In addition, he served on the FASB project teams working on policies and procedures for consolidations. Burman S. Clark is President of Muneris. He has 25 years of experience in the insurance and employee benefits industry. Clark’s strong benefits background encompasses life, health, disability and retirement benefits with specific emphasis on Health Care Reform. He specializes in providing cost-effective solutions to small and mid-size employers. Clark, a Randolph-Macon graduate, earned designation as a Registered Health Underwriter (RHU) from the American College and his Certified Senior Advisor (CSA) designation in 2007. Alicia P. Cohen is the director of diversity programs in the office for inclusion and diversity at Virginia Tech. In this role she provides leadership for diversity education and has facilitated workshops on: Communicating Respectfully; Disability and Diversity; Diversity, Sports and Culture; Facilitating Conversations; Neurodiversity; Creating Inclusive Workplaces; Social Identity; and Women in Higher Education. Alicia began her career at Virginia Tech in 1989 as the coordinator of student organizations. After working 10 years in student activities she moved to multicultural affairs as assistant to the vice president. She served in multiple capacities in a number of university offices focusing on issues of diversity and inclusion. She is a trained facilitator for NetSpeed Leadership, Emotional Intelligence, $tart$mart, Mentors in Violence Prevention, and Intergroup Dialogues. She earned her B.S. in Science and Technology Studies from Lyman Briggs School at Michigan State University and her M.A. in College and University Administration with a Health Promotion Cognate from Michigan State University. Jim Cole , CPA, CGMA, is the CEO for the Masonic Home of Virginia, a Richmond-based continuing care retirement community. Formerly controller of the Virginia Tech Foundation, he held several administrative positions at Virginia Tech following his tenure with an international accounting firm. His 35 years of experience with nonprofits and businesses includes roles as auditor, founder, officer and director of numerous organizations. He has been a licensed life insurance agent and holds two degrees from Virginia Tech. Jim is a former Virginia Society of CPAs (VSCPA) Board member and formerly chaired the VSCPA Business and Industry Conference Task Force. He has been a co-author of the 2014 – 2017 Ethics courses and an ethics instructor for 14 years.

Robert (Bob) H. Cox , J.D., MBA, is a trial attorney with over two decades of experience litigating all types of business cases in courts across the nation. His experience covers a wide range of matters involving securities, business torts, contracts, antitrust, intellectual property, real estate and white collar criminal issues. He has represented parties in class actions, multi-district litigation (MDLs), government enforcement actions, private business disputes and appeals in federal and state courts. Bob has experience managing all of a telecommunications company’s litiga tion over a several year period, totaling well over 100 separate pieces of litigation in courts throughout the United States. The telecommunications company had a forum selection provision in its contracts setting the federal court in Alexandria and the Fairfax Circuit Court as the venue for a majority of the cases. Bob not only took part in the management of these cases, he participated in the litigation of many of these matters, including examining witnesses at hearings and trial, taking and defending depositions, arguing key motions (i.e., summary judgment and dismissal), and drafting briefs and other pleadings. Bob also has substantial experience in securities enforcement and regulatory matters involving accounting firms and auditors. Bob regularly represents accounting firms, corporations, corporate officers and directors, and financial industry professionals in civil, criminal and regulatory matters, including investigations and enforcement proceedings before the U.S. Securities and Exchange Commission (SEC), Public Company Accounting Oversight Board (PCAOB) and the Financial Industry Regulatory Authority (FINRA). In addition, he conducts internal investigations and provides compliance counseling to prevent such investigations. He also represents accounting firms and accountants in professional malpractice matters. Prior to joining Briglia Hundley, Bob was an assistant director in the PCAOB’s Division of Enforcement a nd Investigations for more than six years. While with the PCAOB, he handled numerous enforcement investigations and disciplinary proceedings against domestic and international accounting firms and auditors, including matters involving the Big Four and other Global Network accounting firms. He also coordinated enforcement matters with the SEC, FINRA and foreign regulatory bodies. Before the PCAOB, Bob was a partner at the largest litigation-focused law firm in the country where he handled complex antitrust, commercial and securities cases. Bob has authored several articles and treatises chapters on topics involving securities, antitrust, and litigation. For example, he is co- author of Chapter 11, Securities Damages” in Boushie, Spadea, & Cunniff, Calculating and Proving Damages (Law Journal Press 2011), a leading treatise on damages. He is also the author of Chapter 6, Collateral Estoppel and Prima Facie Effect, Antitrust Evidence Handbook, Third Edition (ABA 2016). Bob has substantial experience teaching trial advocacy, including training litigators in depositions, examination of expert witnesses and direct examination and cross-examination at trial. In addition, he has frequently spoken at professional conferences, training workshops, and continuing legal education courses, such as the FBI Academy at Quantico, Va. and the Virginia Society of CPAs (VSCPA). Krista Edoff, CPA, is a Partner in Cherry Bekaert’s Hampton Roads practice, Krista has over twelve years of experience providing attestation services to governmental, commercial and nonprofit clients. As a member of the Firm’s Government Services industry group, local governments depend on Krista’s expertise in performing financial and compliance audits (including single audits). She a lso delivers audit, review, agreed-upon procedure and consulting services to middle-market clients within the manufacturing, distribution and retail industries. Krista’s duties encompass all aspects of these services from planning, performing, supervising, reporting and wra pping-up the engagement, to direct communication and value-added services to her clients. Before joining Cherry Bekaert in 2002, Krista was employed in public accounting in Florida and South Carolina, where her primary focuses were governmental accounting and small business taxation. She has been both an internal and external instructor for government-related CPE. Mike Glynn , CPA, CGMA, is a senior technical manager in the AICPA Audit and Attest Standards Team. He serves as the staff liaison to the Accounting and Review Services Committee (ARSC). In addition, Mike supports the activities of Auditing Standards Board (ASB) and its subcommittees by assisting members in drafting and deliberating authoritative professional standards and interpretations. Michael M. Grant is the Director of Learning Design and Development at the Association of International Certified Professional Accountants (AICPA), where he leads the design and development of interactive training courses for global users in the accounting profession. Throughout his career, Michael has helped lead learning and development teams and has instructionally designed and developed eLearning courses for Fortune 500 companies. He has presented his research on interactive multimedia for educational-reinforcement tools at major conferences, such as the E-Learn World Conference on E-Learning in Corporate, Government, Healthcare, and Higher Education. Michael holds an MFA degree from Clemson University. Cindy Gross , CPA, CISA, is a director in the information technology audit practice at Brown Edwards. Prior to joining Brown Edwards, Cindy was a director in one of the top 10 firms in the nation where she provided IT audit and consulting services to a wide range of entities including financial services, technology and health care entities. She has over 15 years of experience in system development and design. At Brown Edwards, she focuses on providing a full complement of value-added IT assurance and advisory services, ranging from traditional system audits and SOC engagements to penetration testing and Sarbanes-Oxley control evaluations. She also applies her depth and expertise in the areas of disaster recovery/business continuity planning, vendor management and IT risk assessments. Cindy provides services to clients throu ghout the firm’s nine offices. A 2006 graduate of the University of Texas at Arlington, Cindy has a Master of professional ac countancy degree. In addition, she has a B.S. degree in computer programming and information systems from Shepherd University. She is a member of the American Institute of CPAs (AICPA) and the Information Systems Audit and Control Association (ISACA). Randolph (Randy) Johnston , MCS, has been a top rated speaker in the technology industry for over 40 years. He was inducted into the Accounting Hall of Fame in 2011. He was selected as a Top 25 Thought Leader in Accounting from 2011-2017. His influence throughout the accounting industry is highlighted once again this year by being a recipient of the 2016 Accounting Today Top 100 Most Influential People in Accounting award for the thirteenth consecutive year. Among his many other awards he holds the honor of being one of nine technology stars in the U.S. by Accounting Technology Magazine. Randy writes a monthly column for The CPA Practice Advisor, articles for the Journal of Accountancy, and creates articles for both accounting and technology publications, as well as being the author of numerous books. He has started and owns multiple businesses including K2 Enterprises in Hammond, Louisiana and Network Management Group, Inc. in Hutchinson, Kansas. NMGI has supported CPA firms for 30+ years and is the largest managed service provider serving the CPA profession

in North America. His wife and four children enjoy many experiences together including theatre, music, travel, golf, skiing, snorkeling and model trains. Lawrence (Lee) Klumpp , CPA, CGMA, is BDO’s National Nonprofit & Education Industry Group audit and a ccounting technical leader. He recently completed a fellowship at the Financial Accounting Standards Board (FASB) where he led FASB's project to reexamine existing standards for financial statement presentation by nonprofit entities, focusing on improving the net asset classification requirements and information provided in financial statements and notes about liquidity, financial performance and cash flows. Lee has 20 years of experience serving a diverse group of nonprofit organizations while working for BDO and previously in the audit practices of Ernst & Young, LLP and KPMG. Additionally, he is an accomplished speaker and has spoken on various nonprofit accounting, governance auditing, internal control, governance, financial reporting and single audit issue topics related to nonprofit organizations around the country. Follow him on Twitter @lklumppcpa. Jennifer S. Lehman , CPA, CGMA, has 20 years of public accounting experience, joining Hantzmon Wiebel in 1997. She is a co-partner-in- charge of employee benefit plan audits, and also works with high net worth individuals and a variety of clients. Jennifer enjoys working with her clients, solving problems and helping them remain in compliance with audit and tax regulations. She also consults with her clients on human resource transition and related issues. Jennifer has served as the firm’s chief operating officer since 2007, overseein g operations, personnel, marketing and technology with a special focus on creating a first-class environment for the staff. In her 20 years of professional experience, Jennifer has specialized in the employee benefit plan industry serving all types of benefit plans and plan sponsors. Most recently, she participated in an employee benefit plan collaboration team involving the Virginia Board of Accountancy (VBOA) and the Virginia Society of CPAs (VSCPA) to strengthen audit quality in Virginia. Jeffrey Lewis , MBA, RR, CTP, CCM, is president and managing partner of The Azimuth Group. His practice includes the areas of strategic planning, domestic and international finance and treasury. He has worked worldwide for a variety of multinational companies. Jeff is a frequent lecturer on global financial management, international development, electronic commerce and systems development. Published in leading professional publications and journals worldwide, he has authored several textbooks and reference manuals. Harold Martin Jr. , CPA/ABV/CFF, ASA, CFE, is the partner-in-charge of the Valuation and Forensic Services Group for Keiter in Richmond, Va. and an adjunct faculty member of the College of William and Mary Mason Graduate School of Business. He specializes in valuation and forensic accounting including financial investigations and litigation consulting and expert witness services. Harold is a former member of the American Institute of CPAs (AICPA) Business Valuation (BV) Committee, former chair of the AICPA National BV Conference Steering Committee, former editor of the AICPA ABV e-Alert and former editorial adviser and contributing author for the AICPA CPA Expert. He is a member of the AICPA BV Hall of Fame and a two-time recipient of the AICPA BV Volunteer of the Year Award. He currently serves as a commissioner for the AICPA National Accreditation Commission and as an instructor for the AICPA National BV School and AICPA ABV Exam Review Course. Harold is a former member of the VSCPA Board of Directors and is the former chairman of the Business Valuation and Litigation Services Committee. He created and serves as chair of the Virgin ia Society of CPAs’ (VSCPA) Annual Business Valuation, Fraud and Litigation Services Conference. He is a co- author of “Financial Valuation: Applications and Models, 3rd ed.” and a contributing author to “Cost of Capital: Applications and Examples 4th ed. Workbook and Technical Supplement.” Teri G. Partington , CPA, is a manager in the tax practice at Brown Edwards. Prior to joining Brown Edwards, Teri was a senior executive in operations for a publicly-traded manufacturing company. Prior to operations, she managed all areas of tax functionality and reporting (income, franchise, sales, use, environment, real estate and personal property) for a $3 billion publicly-traded national retailer and defended over 20 audits at both the state and federal level. Teri spent the first part her career in public accounting with Big 4 firms before accepting an offer in industry. At Brown Edwards, she utilizes her unique background to focus on providing management and tax consultations, business and tax planning, and tax compliance services. Her depth of experience in the state and local tax arena allows her to provide SALT services such as evaluation of audit risks, voluntary disclosure filings, gap analysis and process improvements. Teri is a graduate of the College of William & Mary in Williamsburg, Va. She is currently a member of the Virginia Society of CPAs (VSCPA) and the American institute of CPAs (AICPA) and was a member of the Tax Executives Institute for 15 years. Catherine M. Pennington , CPA, CGMA, has more than 30 years of experience in both public accounting and industry. She has spent 21 years in public accounting performing audits, tax planning and compliance and accounting services. Her practice is focused on nonprofit organizations. In addition, Cathy spent seven years as a nonprofit controller and five years as a controller in real estate development and property management. She provides professional services to trade associations, professional associations, sports leagues, child development centers, schools, churches and other nonprofit organizations. These professional services not only include audit and tax services but also accounting services that take advantage of her years of experience as a controller. These engagements involve functioning as either a temporary or ongoing, multi-year chief financial officer or controller. Stephanie R. Peters , CAE, is president & chief executive officer of the Virginia Society of Certified Public Accountants (VSCPA), a statewide professional association for CPAs. She has been with the VSCPA since 1997 and leads the organization on national and state professional issues, legislative and regulatory activities and external relations. As president & CEO, Peters is a member of the VSCPA board of directors and its executive committee. Nationally, Peters serves as Chair of the National Association of State Boards of Accountancy (NASBA) State Society Relations Committee. Peters has served on the American Institute of CPAs (AICPA) Peer Review Board and the AICPA/NASBA Uniform Accoun tancy Act Committee, and she is a past president of the CPA Society Executives’ Association. A Certified Association Executive (CAE), Peters served as president of the Virginia Society of Association Executives and has received its CEO Award of Excellence. Peters currently serves as Vice Chair of the Virginia Council on Economic Education. Peters received her Bachelor of Arts in history from the University of Virginia and her Master of Public Administration from Virginia Commonwealth University. She is also a graduate of the U.S. Chamber of Commerce Institute for Organization Management and Lead Virginia.

Joan M. Renner , CPA, CGMA, has been providing audit and accounting services to nonprofit organizations for more than 30 years. She is in charge of Renner & Company's services to nonprofit organizations. Her areas of expertise include services to trade associations, scientific organizations, federal award recipients, schools and other public charities. Joan is a member of the Virginia Society of CPAs (VSCPA) Accounting & Auditing Conference Committee and the Greater Washington Society of CPAs Nonprofit Organizations Committee and has been a popular presenter at professional conferences. Joan has served on a number of nonprofit Boards, including the Goodwin House Foundation, Scholarship Fund of Alexandria, Rotary Club of Alexandria, Alexandria Chamber of Commerce, Alexandria Symphony Orchestra and Friends of the Torpedo Factory Art Center. She has also been recognized as a Living Legend of Alexandria, Rotarian of the Year (Rotary Club of Alexandria) and Board Member of the Year (Alexandria Chamber of Commerce). Emily P. Walker , CAE, is the vice president of advocacy for the Virginia Society of CPAs (VSCPA). She oversees and provides strategic direction for VSCPA government relations programs, including VSCPA legislative and regulatory activities, grassroots initiatives and the VSCPA Political Action Committee (VSCPA PAC). She also oversees the peer review and ethics programs. Follow her on Twitter @VSCPAEmWalker. William (Bill) R. Walter , CPA, CGMA, is a partner at Dixon Hughes Goodman. He has more than 25 years of experience helping companies identify and resolve issues associated with cost accounting and financial management systems. He has an extensive background in the application and interpretation of rules, regulations and standards applicable to government contractors. Bill began his career as an auditor for the Defense Contract Audit Agency (DCAA). He was responsible for evaluating contractor submissions to ensure that they were based on current, accurate and complete information and were prepared according to appropriate regulations. He has developed and taught courses on cost reimbursement contracting, accounting for cost on government contracts, contract pricing and more. He also participates presents to industry groups on current issues in the federal procurement arena. Duncan B. Will , CPA/ABV/CFF, CFE, leverages his more than 30 years of experience in accounting including public accounting, forensic accounting, consulting and audit and tax compliance, while working closely with the loss prevention specialists to manage the department's efforts to deliver to policyholders the high-touch, high-quality CAMICO experience. Will's specialty is accounting and auditing-related risk management services. He advises policyholders through the CAMICO Loss Prevention Hotline and speaks to CPA groups on a wide range of topics. William (Bill) A. Young, Jr. , CPA, CGMA, is a partner at Mitchell, Wiggins & Company, LLP and has 45 years of experience in public accounting. Bill’s clients include automotive dealerships, community banks and a variety of closely held, primarily family -owned businesses. He also specializes in estate planning and estate administration. Bill is a member of the American Institute of CPAs (AICPA), the Virginia Society of CPAs (VSCPA) and is a graduate of the University of Virginia’s McIntire School of Commerce. He has been a speaker at several Virginia Accounting and Auditing Conferences, incl uding a time management presentation at last year’s conference. Matthew Zaun , CPA, is a Senior Auditor for the Financial Management and Assurance team at the U.S. Government Accountability Office (GAO). His areas of responsibility have included financial statement and performance audits of government entities, auditing standards (Yellow Book), and Standards of Internal Control for the Federal Government (Green Book). Mr. Zaun holds Bachelors of Science in Finance, Management, and Accounting, and a Master of Accounting and Information Systems from Virginia Tech.

The 48th Annual Virginia Accounting and Auditing Conference is co-sponsored by the Department of Accounting and Information Systems at Virginia Tech and the Virginia Society of Certified Public Accountants. Representing the Society: Representing Virginia Tech: Jim Brackens, CPA, CGMA Lynn Almond, CPA, Chair Carman Faison, CPA Jamie Dunn, CPA Kristen Kociolek, CPA, CGFM Dana Garner, CPA, Ph.D. Luke Martonik, CPA Eric Martin, CPA Linda Newsom-McCurdy, CAE, CMP Jason Sharp, CPA Joan Renner, CPA Arnita Perfater, Administrative Assistant Laura Seal, CPA Next Year’s Conference : The dates for the 2019 49 th Annual Virginia Accounting and Auditing Conference are: September 23 & 24, 2019, The Hotel Roanoke, Roanoke, Virginia September 26 & 27, 2019, Falls Church Marriott, Fairview Park, Falls Church, Virginia November 21 & 22, 2019, Hilton Norfolk The Main, Norfolk, Virginia Suggestions for the Conference: If you would like to suggest a speaker or topic for next year’s A&A Conference, please let us know. You may give the information to Lynn Almond (lalmond@vt.edu), Program Chair, or any staff member at the Conference registration desk.

Supporting the Next Generation of CPAs

ABOUT THE VSCPA EDUCATIONAL FOUNDATION

The Virginia Society of CPAs (VSCPA) Educational Foundation is dedicated to supporting future CPAs by promoting accounting education, rewarding academic excellence and encouraging students to pursue promising careers.

By making a tax-deductible donation to the VSCPA Educational Foundation, you are helping provide scholarships to the brightest students across Virginia and easing the burden of rising tuition costs. Through the generosity of our donors, we were able to award 27 scholarships to a diverse group of students this year.

Your support will help us provide even more students with financial support to achieve their career goals. Make a tax- deductible donation today at VSCPAFoundation.com and help us raise $65,500 to support the next generation of CPAs!

YOUR DONATION MAKES A DIFFERENCE

“This scholarship continues to motivate and encourage me to be persistent along my path to becoming a CPA no matter what challenges I face.” -Shai Sumpter, VSCPA Minority Scholarship

“This financial support will be a blessing to both me and my family in meeting my tuition requirements for the next academic year.” -McKenna Shirey, Kearney & Company Scholarship

“As a first-generation college student, I have always been constrained by the availability of financial resources. I am extremely grateful for the opportunity the VSCPA has provided me.” -Allen Au, Thomas M. Berry Jr. Scholarship

“Receiving a scholarship from the Foundation, will help me fulfill the immediate educational requirements of becoming a CPA and will have a lasting impact on my future career plans.” -Elena Dorogy, H. Burton Bates Jr. Scholarship

“As a double major in accounting and finance, this scholarship is allow- ing me to complete my degrees without taking many student loans.” -Avery Trent, VSCPA Undergraduate Scholarship

Support Future CPAs Today! VSCPAFoundation.com

Educational Foundation VSCPA

THANK YOU FOR SUPPORTING FUTURE CPAS

Is this an q individual gift or a q firm/company gift?

Name __________________________________________________________________________________________________________ Company name _________________________________________________________________________________________________ Mailing address _________________________________________________________________________________________________ City/State/ZIP ___________________________________________________________________________________________________ Email address ___________________________________________________________________________________________________ Phone __________________________________________________________________________________________________________

ANNUAL FUND GIFT AMOUNT q Pacesetter — $1,000 q Champion — $500

q Supporter — $50 q Contributor — $25 q Other $ __________

q Leader — $250 q Friend — $100

This would really help!

DOUBLE YOUR DONATION! q My employer offers a matching gift program. Name of Employer ____________________________________________________ *For matching gifts, please mail us your employer’s matching gift form.

RECOGNIZING OUR DONORS q I wish to remain anonymous.

PAYMENT METHOD q Check for $ __________ made payable to the VSCPA Educational Foundation VSCPA Educational Foundation 4309 Cox Road Glen Allen, VA 23060

q Credit Card: q Discover Donation Amount $ __________ Card number________________________________________________________ Expiration date_____________________________ Name on card _____________________________________________________ Signature _______________________________________________________________________________________________________ q Visa q MasterCard q American Express

q I would like to make this credit card gift recurring.* Payment frequency: q Monthly q Quarterly

q Yearly

How long should the gift be made? q Until I cancel it

q Until this date:__________

* Your first payment will be processed immediately. Future payments are processed between the 1st and 5th of the month You may also contribute by credit card online at www.VSCPAFoundation.com. All undesignated gifts will be allocated to the VSCPA Educational Foundation’s unrestricted fund for use toward current and future needs.

Learn more at: VSCPAFoundation.com

THANK YOU TO OUR SPONSORS!

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